Spain Boosts Green Hydrogen Target Amid Industry Confidence
Key Ideas
  • Spain increases its 2030 target for green hydrogen production capacity to 12 GW, showcasing confidence in the industry despite challenges faced by energy giants.
  • The updated national energy and climate plan, to be approved by the government, aims at positioning Spain as a leader in green hydrogen production in Europe.
  • Big investors like Hygreen Energy and Envision Group are showing interest in Spain's green hydrogen sector, leveraging the country's renewable energy potential.
  • While some energy companies are scaling back low carbon hydrogen projects, Spain remains committed to its green hydrogen ambitions, aligning with European decarbonisation goals.
Spain has revised its target for green hydrogen production capacity, increasing it to 12 gigawatts by 2030, demonstrating confidence in the sector. This move comes amidst challenges faced by energy giants who have scaled back their low carbon hydrogen projects due to high costs and uncertain demand. The updated national energy and climate plan, expected to be approved by the government, sets ambitious goals for energy efficiency, renewables, and green hydrogen production. Spain aims to leverage its abundant sunshine and wind resources to become a key player in European green hydrogen production, attracting interest from major investors like Hygreen Energy and China's Envision Group. Despite setbacks in the industry, such as Shell shelving a blue hydrogen project in Norway and Equinor canceling a similar plan, Spain remains resolute in its green hydrogen ambitions. The country's commitment aligns with the broader European objective of decarbonising the economy. While facing delays, Spain's energy and climate plan remains consistent with its previous draft, focusing on emission reduction and energy storage targets. Overall, the country's confidence in the green hydrogen sector signals a positive outlook for the future of renewable energy and sustainable development in Spain and Europe.
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